So you are in the market for a new office space and have your eyes set on an old building. It was great! The old building comes with plenty of charm and character. But before you sign the dotted line, you must keep a few things in mind. In this blog post, we’ll cover some of the top considerations to remember when buying an old building.
If an old building was built before the 1980s, there’s a good chance it contains asbestos. Asbestos is a dangerous substance that can cause many health problems, including lung cancer. So if you’re planning to buy an old building, have it checked for asbestos by a qualified professional before proceeding.
Consider Renovation Costs
Older buildings often require more renovations than newer buildings. So before you buy an old building, make sure to consider the costs involved renovation. This will help you avoid nasty surprises down the road and make sure you spend your purchases wisely.
Make sure the foundation is nice
Older buildings tend to have less stable foundations than newer buildings. This is caused by numerous factors, including deposition and erosion. Therefore, before buying an old building, have a qualified professional assess the condition of the foundation and ensure it’s up to code. Otherwise, you may find yourself dealing with expensive ones foundation repair on the road.
Pay attention to the Plumbing System
Old buildings often have worn pipe system. These systems should be updated repeatedly to make sure they’re secure and compliant with code. Be sure to consider the price of repairing these systems when assessing whether or not an older building is right for you. Also, remember that old plumbing systems can be difficult to access, making repairs and maintenance costlier.
Take a look at Zoning Laws
Certain zoning laws may affect the eligibility of buying older buildings. Therefore, it’s important to research local laws and regulations before investing in any property. For example, zoning laws can limit the types of businesses you can operate, determine how many parking spaces must be provided, and other factors. In addition, some zoning laws may limit any changes that can be made to a building or property without the permission of a local government agency.
Industrial Electric Power Lease
If your old building has industrial electrical systems such as high voltage or motors, you should rent one industrial electricity to examine and maintain them. These professionals are especially trained to work with industrial electrical systems and can help you keep them safe and operational. Hiring an electrician can even help you identify and address potential problems with your building’s electrical system.
Many things are considered before buying an old building, but it can be a wonderful investment if you do your due diligence! Make sure the building is checked for asbestos, calculate renovation costs, ensure the foundation is powerful, and pay attention to the electrical and plumbing systems. With these items in mind, you can find the perfect old building for your needs! Thanks for reading!